Eligibility Specialist Average Salary in Cook Islands 2021
How much money does an Eligibility Specialist make in Cook Islands?
LOW
2,210
NZD AVERAGE
4,810
NZD HIGH
7,650
NZD
A person working as an Eligibility Specialist in Cook Islands typically earns around 4,810 NZD per month. Salaries range from 2,210 NZD (lowest) to 7,650 NZD (highest).
This is the average monthly salary including housing, transport, and other benefits. Eligibility Specialist salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Eligibility Specialist Salary Distribution in Cook Islands
The median, the maximum, the minimum, and the range
Salary Range
Eligibility Specialist salaries in Cook Islands range from 2,210 NZD per month (minimum salary) to 7,650 NZD per month (maximum salary).
Median Salary
The median salary is 5,200 NZD per month, which means that half (50%) of people working as Eligibility Specialist(s) are earning less than 5,200 NZD while the other half are earning more than 5,200 NZD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Percentiles
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Eligibility Specialist(s) are earning less than 3,330 NZD while 75% of them are earning more than 3,330 NZD. Also from the diagram, 75% of Eligibility Specialist(s) are earning less than 6,940 NZD while 25% are earning more than 6,940 NZD.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
Eligibility Specialist Salary Comparison by Years of Experience
How does experience and age affect your pay?
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Eligibility Specialist salaries by experience level and this is what we found.
An Eligibility Specialist with less than two years of experience makes approximately 2,510 NZD per month.
While someone with an experience level between two and five years is expected to earn 3,350 NZD per month, 34% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 4,960 NZD per month, 48% more than someone with two to five years of experience.
Additionally, Eligibility Specialist(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 6,050 NZD per month, 22% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 6,590 NZD per month, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 7,130 NZD per month, 8% more than people with fifteen to twenty years of experience.
Eligibility Specialist average salary change by experience in Cook Islands
| 0 - 2 Years | 2,510 NZD | |
| 2 - 5 Years | +34% | 3,350 NZD |
| 5 - 10 Years | +48% | 4,960 NZD |
| 10 - 15 Years | +22% | 6,050 NZD |
| 15 - 20 Years | +9% | 6,590 NZD |
| 20+ Years | +8% | 7,130 NZD |
Typical Salary Progress for Most Careers
Eligibility Specialist Salary Comparison By Education
How do education levels affect salaries?
Displayed below is the average salary difference between different Eligibility Specialist(s) who have the same experience but different education levels.
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Eligibility Specialist salaries by education level in order to make a comparison.
When the education level is Bachelor's Degree, the average salary of an Eligibility Specialist is 2,920 NZD per month.
While someone with a Master's Degree gets a salary of 5,640 NZD per month, 93% more than someone having a Bachelor's Degree degree.
Eligibility Specialist average salary difference by education level in Cook Islands
| Bachelor's Degree | 2,920 NZD | |
| Master's Degree | +93% | 5,640 NZD |
Is a Master's degree or an MBA worth it? Should you pursue higher education?
A Master's degree program or any post-graduate program in Cook Islands costs anywhere from 23,500 New Zealand Dollar(s) to 70,600 New Zealand Dollar(s) and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Typical Salary Difference by Education for Most Careers
Eligibility Specialist Salary Comparison By Gender
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Eligibility Specialist employees in Cook Islands earn 19% more than their female counterparts on average.
| Male | 5,230 NZD | |
| Female | -16% | 4,390 NZD |
Salary Comparison By Gender in Cook Islands for all Careers
Get $25 on sign up.
Eligibility Specialist Average Annual Salary Increment Percentage in Cook Islands
How much are annual salary increments in Cook Islands for Eligibility Specialist(s)? How often do employees get salary raises?
Eligibility Specialist
Eligibility Specialist(s) in Cook Islands are likely to observe a salary increase of approximately 7% every 29 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.
Cook Islands / All Professions
The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
How to calculate the salary increment percentage?
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency
Annual Increment Rate By Industry 2020
| Banking | 6% | |
| Energy | 3% | |
| Information Technology | 9% | |
| Healthcare | 6% | |
| Travel | 3% | |
| Construction | 9% | |
| Education | 6% |
Listed above are the average annual increase rates for each industry in Cook Islands for the year 2020. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
Worldwide Salary Raises: All Countries and All Jobs
Eligibility Specialist Bonus and Incentive Rates in Cook Islands
How much and how often are bonuses being awarded?
Share This Chart Tweet Get Chart Linkhttp://www.salaryexplorer.com/charts/cook-islands/insurance/eligibility-specialist/annual-salary-bonus-rate-cook-islands-eligibility-specialist.jpg
An Eligibility Specialist is considered to be a low bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
84% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 16% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 0% to 4% of their annual salary.
| Received Bonus | 16% | |
| No Bonus | 84% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Goal-Based BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese types of bonuses are given without a reason and usually resemble an appreciation token.
Bonuses Are Not Commissions!
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
What makes a position worthy of good bonuses and a high salary?
The main two types of jobs | |
| Revenue Generators | Supporting Cast |
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business. | Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations. |
Example: | Example: |
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Bonus Comparison by Seniority Level
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Eligibility Specialist Average Hourly Wage in Cook Islands
28 NZD per hourThe average hourly wage (pay per hour) in Cook Islands is 28 NZD. This means that the average Eligibility Specialist in Cook Islands earns approximately 28 NZD for every worked hour.
The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
Eligibility Specialist VS Other Jobs
The average salary for Eligibility Specialist is 2% more than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Actuarial Analyst | 6,050 NZD |  +26% |
| Actuarial Assistant | 4,490 NZD |  -7% |
| Actuary | 6,020 NZD | +25% |
| Adjustment Insurance Clerk | 1,770 NZD | -63% |
| Assistant Broker | 2,960 NZD | -38% |
| Assistant Claims Manager | 4,900 NZD | +2% |
| Associate Insurance Representative | 2,340 NZD | -51% |
| Auditing Insurance Manager | 6,730 NZD | +40% |
| Broker | 4,540 NZD | -6% |
| Claim Advocacy Professional | 4,680 NZD | -3% |
| Claims Adjuster | 1,770 NZD | -63% |
| Claims Analyst | 2,360 NZD | -51% |
| Claims Examiner | 2,480 NZD | -48% |
| Claims Manager | 6,420 NZD | +33% |
| Claims Processor | 1,780 NZD | -63% |
| Claims Representative | 2,040 NZD | -58% |
| Claims Resolution Specialist | 5,290 NZD | +10% |
| Claims Supervisor | 4,510 NZD | -6% |
| Complaints Specialist | 4,350 NZD | -10% |
| Compliance Officer | 3,840 NZD | -20% |
| Consultant | 4,790 NZD | -0% |
| Eligibility Specialist | 4,810 NZD | = |
| Insurance Account Manager | 5,790 NZD | +20% |
| Insurance Accounts Executive | 4,880 NZD | +1% |
| Insurance Agent | 2,810 NZD | -42% |
| Insurance Analyst | 4,470 NZD | -7% |
| Insurance Appraiser | 4,960 NZD | +3% |
| Insurance Claims Clerk | 1,750 NZD | -64% |
| Insurance Examiner | 4,110 NZD | -15% |
| Insurance Investigator | 4,440 NZD | -8% |
| Insurance Manager | 7,980 NZD | +66% |
| Insurance Operations Manager | 8,260 NZD | +72% |
| Insurance Policy Processing Clerk | 1,670 NZD | -65% |
| Insurance Pricing Assistant | 3,610 NZD | -25% |
| Insurance Program Manager | 6,120 NZD | +27% |
| Insurance Project Manager | 6,110 NZD | +27% |
| Insurance Quality Assurance Agent | 3,920 NZD | -19% |
| Insurance Sales Agent | 2,810 NZD | -42% |
| Insurance Sales Director | 7,790 NZD | +62% |
| Insurance Team Leader | 4,900 NZD | +2% |
| Insurance Underwriter | 3,470 NZD | -28% |
| Loss Control Specialist | 4,770 NZD | -1% |
| Loss Prevention Investigator | 4,900 NZD | +2% |
| Loss Prevention Manager | 6,520 NZD | +36% |
| Loss Prevention Specialist | 5,020 NZD | +4% |
| Marine Underwriter | 3,380 NZD | -30% |
| Medical Auditor | 4,710 NZD | -2% |
| Monitoring and Performance Officer | 3,410 NZD | -29% |
| Payment Services Specialist | 4,720 NZD | -2% |
| Policy Change Director | 7,500 NZD | +56% |
| Policy Change Supervisor | 4,930 NZD | +2% |
| Policy Change Technician | 2,330 NZD | -52% |
| Risk Analyst | 5,380 NZD | +12% |
| Risk Management Director | 8,870 NZD | +84% |
| Risk Management Supervisor | 6,030 NZD | +25% |
| Risk Manager | 8,550 NZD | +78% |
| Risk Modeling Manager | 9,000 NZD | +87% |
| Title Insurance Typist | 3,930 NZD | -18% |
| Training Manager | 5,170 NZD | +7% |
Government vs Private Sector Salary Comparison
Where can you get paid more, working for a private company or for the government? Public sector employees in Cook Islands earn 14% more than their private sector counterparts on average across all sectors.
| Private Sector | 4,330 NZD | |
| Public Sector | +14% | 4,950 NZD |
Get $25 on sign up.
